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Explore finance-related stories with Pakistan Revenue, your source for the latest updates on Pakistan’s economy, financial trends, and market insights. Stay informed with real-time economic developments.

  • PM approves country’s first-ever National Tariff Policy

    PM approves country’s first-ever National Tariff Policy

    ISLAMABAD: Prime Minister Imran Khan on Wednesday approved the first-ever ‘National Tariff Policy’ which is aiming to improve competitiveness through access to raw materials, increase employment opportunities by attracting investment through transparent and predictable tariff regime.

    The draft policy, approved by the prime minister, would be presented before the Federal Cabinet for its consideration.

    Highlighting salient features of the policy, Secretary Commerce Mohammad Younus Dagha said that the major objectives of the National Tariff Policy (NTP), which has been drafted after detailed and comprehensive discussions with the stakeholders, is to improve competitiveness through access to raw materials, increase employment opportunities by attracting investment through transparent and predictable tariff regime and remove anomalies in tariff structure, causing distortions.

    Policy principles include tariff as a trade policy instrument, reducing exemptions and concessions, cascading tariff structures with stage of processing of a product, strategic protection to domestic industry and competitive import substitution.

    The new policy also envisages establishment of a broad-based Tariff Policy Center in the Ministry of Commerce to formulate proposals for improving tariff structure in pursuance of the objectives of the National Tariff Policy.

    The prime minister appreciated the efforts of commerce ministry in formulating a comprehensive tariff policy for the first time in the history of the country which, he said, will greatly restore confidence of the business community by providing for a transparent, predictable and institutionalized structure for tariff setting.

    The Prime Minister observed that the economy, especially the trade and industrial development suffered in past due to ad-hocism and unpredictability of tariff structure resulting in capture of the economy by vested interests and rampant corruption.

  • Headline inflation rises by 8.2 percent in February

    Headline inflation rises by 8.2 percent in February

    ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) increased by 8.2 percent on year-on-year basis in February 2019 as compared to an increase of 7.2 percent in the previous month.

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  • SPI inflation increases by 10.63 percent

    SPI inflation increases by 10.63 percent

    ISLAMABAD: The inflation based on Sensitive Price Indicator (SPI) has increased by 10.63 percent by the week ended February 28, 2019, as compared with the corresponding week a year ago, according to details released by the Pakistan Bureau of Statistics (PBS) on Friday.

    The weekly SPI with base 2007-08=100 covering 17 urban centers and 53 essential items for all income groups/quintiles and combined has been computed.

    According to the PBS, inflation increased by 7.40 percent over the year for the lower-income group up to Rs8,000.

    The detail of inflation for other income is: 7.63 percent for income group Rs8001-120000; Rs7.62 percent for income group Rs12001-18000; 11.57 percent for income group Rs18001-35000; and 14.93 percent for income group above Rs35000.

    The basic items which witnessed significant growth in prices over the year are included: telephone calls; high-speed diesel; washing soap; gas charges; fabric-cloth; cigarettes; red chilli; cooking oil etc.

  • Forex reserves increase to $14.815 billion

    Forex reserves increase to $14.815 billion

    KARACHI: The total foreign exchange reserves of Pakistan increased by $21 million to $14.815 billion by week ended February 22, 2019 as compared with $14.794 billion a week ago, the State Bank of Pakistan (SBP) said on Thursday.

    The reserves held by SBP, however, declined by $7 million to $8.036 billion as compared with $8.043 billion.

    The reserves held by commercial bank increased by $28 million to $6.779 billion from $6.751 billion.

  • Forex reserves decline by $101 mn to $14.795 bn

    Forex reserves decline by $101 mn to $14.795 bn

    KARACHI: Pakistan’s total foreign exchange reserves declined by $101 million to $14.795 billion by week ended February 15, 2019 as compared with Rs14.895 billion a week ago, State Bank of Pakistan (SBP) said on Thursday.

    During the week ending February 15, 2019, the official reserves of SBP were decreased by $163 million to $8.043 billion from $8.206 billion a week ago, due to external debt servicing and other official payments.

    The reserves held by commercial banks however increased by $62 million to $6.751 billion as compared with $6.689 billion a week ago.

  • PM directs harsh action against tax evaders, corrupt tax officials

    PM directs harsh action against tax evaders, corrupt tax officials

    ISLAMABAD: Prime Minister Imran Khan, on Tuesday, directed tax authorities to take strict measures against tax evaders and corrupt officials within the tax departments. The prime minister issued these directives during a meeting focused on the government’s revenue generation efforts.

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  • ECC approves amending import policy order for tightening labeling requirement

    ECC approves amending import policy order for tightening labeling requirement

    ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved to amend Import Policy Order to further tighten labeling requirement in order to facilitate local consumers to understand product ingredients.

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  • Total foreign investment falls by 75 percent in seven months

    Total foreign investment falls by 75 percent in seven months

    KARACHI: Pakistan has experienced a significant decline of 75 percent in total foreign investment, amounting to $1.042 billion during the period of July to January in the fiscal year 2018/2019, according to the State Bank of Pakistan (SBP).

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  • Oil import bill soars to $8.68 billion in July –January

    Oil import bill soars to $8.68 billion in July –January

    ISLAMABAD – Pakistan’s oil import bill has witnessed a significant surge, reaching $8.68 billion, driven by a substantial increase in the import of liquefied natural gas (LNG), as reported by the Pakistan Bureau of Statistics (PBS).

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